After the closing, Eaton will move no longer be incorporated in the U.S. It will be domiciled in Ireland, which is where Cooper Industries' is incorporated.

Eaton is talking about how the move will “significantly increase the capabilities and geographic breadth of the combined company’s power management portfolio and electrical business.”

However, a Rueters story pointed out that Eaton is one of several corporations (including Tyco Flow Control, a soon-to-be former division of Tyco International) that have made plans to move offshorte and expect to gain tax advantages from doing so.

Asked about any planned changes to the fire and security operations, an Eaton spokesperson told me that the company would not be commenting on elements of the Cooper Industries’ businesses until after the transaction closes in the second half of 2012.

And on the benefits of moving offshore, he said. “There will be some global cash management and tax benefits as well as some [business] synergies.”

Eaton Chairman and CEO Alexander Cutler will head up the new company, which will likely be called “Eaton Global Corp.”

Under terms of the deal, each Cooper stockholder will receive $39.15 in cash and 0.77479 shares of the newly created company. That combination is worth $72 per share based on Eaton's closing price of $42.40 on Friday. Cooper currently has 159.1 million outstanding shares.

DELRAY BEACH, Fla.—As electronic technology becomes increasingly vital to physical security, there has been a growing need for collaboration between physical and IT security. But should corporations be striving to converge these two departments into one?

YARMOUTH, Maine—TechSec Solutions programmers today announced that Gareth Webley, chief information security officer and VP IT Security and Compliance for Eaton Corporation, will give the keynote address at this year’s TechSec Solutions, which will take place Feb.